RE:RE:Feb / March Insider (Market) Buys_Almost $300K CDNSelling off non-core assets to buy back their bonds, especially in a rising interest rate environment would be a smart mgmt move to reduce debt load. The higher rates go, the cheaper their bonds are to buyback.
Cash flow should be pretty steady pending line 3 operation or new contracts being signed which should see CF go up.
As long as oil price doesn't suddenly plunge to $30/barrel again or something dumb like that, the oil will continue to flow which will keep CF steady. As of a while their pipelines are at capacity.
NAFTA is the big monkey wrench. MLP changes are inconsequential for the next year or so...worst case scenario is restructuring costs. My guess is mgmt knows debt load is weighing the stock down, has a plan to reduce it, and is thus buying in at cheap prices.